Showing 1 - 10 of 1,846
Illiquidity measures appear to be related to monthly realized returns but do they impact long-run costs of capital (CoC …
Persistent link: https://www.econbiz.de/10012800436
Persistent link: https://www.econbiz.de/10014431274
Persistent link: https://www.econbiz.de/10012167912
Persistent link: https://www.econbiz.de/10012793997
Persistent link: https://www.econbiz.de/10009492585
We argue that the empirical evidence against the Capital Asset Pricing Model (CAPM) based on stock returns does not invalidate its use for estimating the cost of capital for projects in making capital budgeting decisions. Since stocks are backed not only by projects in place, but also the...
Persistent link: https://www.econbiz.de/10012757537
The research aimed to check whether investment fund managers maintain costs similarly from period to period. The … research verified the hypothesis that managers maintain costs in the subsequent periods at a similar level. The study used a … performance with costs, assuming that managers also control these values. Costs were defined as: (1) total costs, (2) total costs …
Persistent link: https://www.econbiz.de/10013252655
We argue that the CAPM may be a reasonable model for estimating the cost of capital for projects in spite of increasing empirical evidence in the literature against the CAPM based on stock returns. As McDonald and Siegel (1985) and Berk, Green and Naik (1999) point out, stocks are backed by...
Persistent link: https://www.econbiz.de/10013146788
We argue that the empirical evidence against the Capital Asset Pricing Model (CAPM) based on stock returns does not invalidate its use for estimating the cost of capital for projects in making capital budgeting decisions. Since stocks are backed not only by projects in place, but also the...
Persistent link: https://www.econbiz.de/10012463759
Persistent link: https://www.econbiz.de/10012820821